Reuters - Apollo's Black Sees PE Tax Break in Jeopardy

Apollo Global Management chief executive Leon Black said a US tax break that benefits private equity and venture capital executives could fall victim to deficit reduction efforts after President Barack Obama's re-election, writes Reuters. Obama has said in the past that he favored eliminating the carried-interest tax break, which lets private equity executives pay the 15 percent capital gains tax on a large portion of their earnings, rather than the top ordinary income tax of 35 percent, writes Reuters.

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